#Canada #Toronto #Denison Mines #uranium exploration #Foremost Clean

Denison Mines Corp. Expands Investment in Foremost Clean Energy Ltd.

In a recent strategic move, Denison Mines Corp. (TSX: DML, NYSE American: DNN) has announced its decision to further invest in Foremost Clean Energy Ltd. (NASDAQ: FMST, CSE: FAT). This acquisition aligns with Denison's rights under the existing Investor Rights Agreement with Foremost and highlights the company’s growing confidence in the clean energy sector.

On September 12, 2025, Denison completed its acquisition of 485,000 common shares of Foremost at a price of $2.20 per share, totaling an investment of $1,067,000. This transaction increases Denison's holdings in Foremost from 1,977,410 shares, approximately 16% of the company's total, to 2,462,410 shares, representing about 19%. Furthermore, Denison now possesses 607,600 warrants, comprising approximately 17% of Foremost's outstanding warrants.

This acquisition is a clear indication of Denison Mines' long-term strategy to participate in the burgeoning clean energy market. The demand for clean energy sources continues to escalate, specifically for uranium and lithium, which are essential components in energy production and storage. As such, Denison's move is not just a financial maneuver; it signifies a commitment to sustainable and responsible energy practices.

Denison’s increasing investment in Foremost comes as the latter continues to explore its uranium properties located in the highly acclaimed Athabasca Basin region. This area, known for its rich uranium resources, positions Foremost favorably in the industry, contributing to its potential growth. Foremost aims to advance its exploration programs efficiently and systematically, with collaborations from established partners like Denison.

Denison Mines has a rich history in the uranium sector, holding a prominent position with its flagship Wheeler River Uranium Project. This project is noted for being the largest undeveloped uranium venture in the resource-rich Athabasca Basin. A feasibility study completed in mid-2023 showed that both the Phoenix and Gryphon deposits could compete with the lowest cost uranium mining operations globally. Furthermore, permitting efforts have progressed, with approvals coming from relevant authorities, setting the stage for future operational activities.

For Denison, the investment in Foremost not only highlights an expansion of its portfolio but also aligns with its strategy of seeking exposure to high-potential energy projects. The company plans to continuously evaluate its investment in Foremost, considering various factors that may affect future acquisitions or dispositions of securities, thereby responding proactively to market conditions.

The early warning report that Denison intends to file will disclose detailed changes in its holdings and will be submitted in compliance with National Instrument 62-103 regulations. This transparency is critical in maintaining investor trust and adhering to legal frameworks guiding investment disclosures.

The Landscape of Clean Energy

As the climate continues to change, and the push for environment-friendly resources grows, companies involved in the clean energy sector like Denison and Foremost are poised to play significant roles in transitioning to a more sustainable future. With North America’s growing focus on carbon-free energy, such investments are likely to yield substantial returns in the coming years, making it imperative for companies to harness these opportunities effectively.

In conclusion, Denison Mines Corp.'s latest investment in Foremost Clean Energy Ltd. not only reinforces its position in the uranium market but also exemplifies the ongoing shift toward renewable energy solutions. As both companies work together in the Athabasca Basin, they aim to contribute positively to the evolving landscape of clean energy, ultimately benefiting shareholders and the environment alike.